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The CO2 incubator market share is expected to increase by USD 113.99 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.38%.
This CO2 incubator market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers CO2 incubator market segmentation by end-user (biotechnology and pharmaceutical companies, research and clinical laboratories, and others) and geography (Asia, North America, Europe, and ROW). The CO2 incubator market report also offers information on several market vendors, including BMT USA LLC, Cardinal Health Inc., Eppendorf AG, Memmert GmbH + Co.KG, N-Biotek Inc., NuAire Inc., PHC Holdings Corp., Sartorius AG, Sheldon Manufacturing Inc., and Thermo Fisher Scientific Inc. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growth of the global life science market is notably driving the CO2 incubator market growth, although factors such as high cost of equipment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the CO2 incubator industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key CO2 Incubator Market Driver
One of the key factors driving growth in the CO2 incubator market is the growth of the global life science market. The growth of the geriatric population, the increase in the prevalence of chronic diseases, and the rise in the disposable income of people contributed to the growth. Thus, the growth of the global life science market has encouraged biotechnology, pharmaceutical, and biomedical companies to improve their research and product offerings. Cell culture is an indispensable technology for basic research and a wide range of clinical in vitro studies. Keeping these cells in their natural condition and maintaining a sterile environment while conducting cell culture is important to avoid errors and improve results. For this purpose, CO? incubators are being used in several laboratory research and clinical applications to maintain a constant temperature and humidity for the growth of tissue culture cells under a CO? atmosphere. Thus, the growing investment in the life science sector has increased the research in biotechnology, pharmaceutical, and biomedical companies, fueling the demand for CO? incubators, benefiting the market.
Key CO2 Incubator Market Trend
The growth of IVF procedures is another factor supporting the CO2 incubator market share growth. The number of cases of infertility is increasing. This is because of factors such as changing lifestyles, resulting in increased cases of polycystic ovarian syndrome and delay in pregnancy age, which is leading to depleting quality of eggs. All these factors are increasing demand for assisted reproductive technologies such as IVF, which is a process of fertilization where an egg is combined with sperm outside the body in in-vitro. An increase in awareness, improvement in the success rate, and a rise in affordability are some factors for the rise in IVF procedures. Incubators are vital to the overall success of IVF. They create an optimal, constant environment for embryo cultures. Thus, with the increase in the number of IVF procedures, the demand for CO? incubators will increase in the coming years. Vendors have started offering improved and advanced incubators to satisfy the demand.
Key CO2 Incubator Market Challenge
The high cost of equipment will be a major challenge for the CO2 incubator market during the forecast period. The average cost of a CO? incubator is estimated to be $6,000-$14,000. In cases of customization as per the end-user need, the total cost of CO? incubators will increase to match the working environment and for adding more shelves and trays or purchasing add-on accessories. The total cost of ownership is the overall cost of the equipment over its useful life, and the cost of maintenance, service and repair increases the total cost of ownership for a standard CO? incubator, making CO? equipment more expensive during its lifetime. Further, continuous maintenance is required as CO? incubators equipment requires frequent cleaning after incubation of each batch or completion of each procedure. The high cost associated with the purchase and maintenance of these CO? incubators is negatively affecting the market growth as adoption rates will decrease.
This CO2 incubator market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global CO2 incubator market as a part of teh global life sciences tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the CO2 incubator market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the CO2 incubator market encompasses successful business strategies deployed by the key vendors. The CO2 incubator market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
PHC Holdings Corp. - The company offers CO? incubators such as MCO-170AC, MCO-170AIC, MCO-170AICD, and MCO-230AIC.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The CO2 incubator market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the CO2 incubator market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the life sciences tools and services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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35% of the market's growth will originate from Asia during the forecast period. China and Japan are the key markets for CO2 incubators in Asia. Market growth in this region will be faster than the growth of the market in other regions.
The increase in pharmaceutical and biotechnology industries and increasing investments in pharmaceuticals and biotechnology, owing to low-cost labor and stable economies will facilitate the CO2 incubator market growth in Asia over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In APAC, the number of COVID-19 cases is increasing. Several biotechnology and pharmaceutical companies have conducted trials to find a vaccine against the coronavirus. The CO? incubator is used to create an atmosphere that is as natural as possible to develop cell and tissue cultures, hence, supporting in research and development of vaccines. Thus, countries such as India and China have invested heavily in research and developments, which has driven the growth of the CO? incubator market in the region.
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The CO2 incubator market share growth by the biotechnology and pharmaceutical companies segment will be significant during the forecast period. As companies are spending a significant amount on R&D, accuracy and precision in results are of high importance. Thus, laboratory equipment such as CO? incubators is used to provide a contamination-free environment during cell culture while maintaining temperature, humidity, and O?/CO? levels. Thus, with the increase in the number of pharmaceutical and biotechnology companies, the demand for CO? incubators will increase, which is required for routine applications such as cell cultivation, benefiting the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the CO2 incubator market size and actionable market insights on post COVID-19 impact on each segment.
Air Jacketed CO2 Incubator market - The market research analyst at Technavio predicts that the global market will grow progressively and post a CAGR of around 6% by 2020.
CO2 Incubator Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.38% |
Market growth 2021-2025 |
$ 113.99 million |
Market structure |
Fragmented |
YoY growth (%) |
8.00 |
Regional analysis |
Asia, North America, Europe, and ROW |
Performing market contribution |
Asia at 35% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BMT USA LLC, Cardinal Health Inc., Eppendorf AG, Memmert GmbH + Co.KG, N-Biotek Inc., NuAire Inc., PHC Holdings Corp., Sartorius AG, Sheldon Manufacturing Inc., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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